Turkey Health And Medical Insurance Market Study and Professional in-depth Industry Analysis 2019 to 2024
Turkey Health And Medical Insurance Market – Growth, Trends, And Forecast (2019 – 2024)
A complete background analysis of the Turkey health insurance industry, including an assessment of the national health accounts, economy, and emerging market trends by segments, significant changes in market dynamics, and market overview, is covered in the report.
The Turkey health and medical insurance market is expected to register a healthy CAGR of 18%, during the forecast period of 2019-2024.
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Top Companies in the Turkey Health And Medical Insurance Market:
Allianz Trkiye, ACIBADEM HEALTH GROUP, Anadolu Insurance, Mapfre Insurance, Aksigorta, AXA Insurance – Insurance Turkey’s Trusted Brand, Eureko Insurance, Groupama Insurance, Solar Insurance, Sompo Japan, Yapi Kredi Insurance
– Changing disease profile
– Increasing economic welfare
– Increasing incomes
– Higher incidences of chronic diseases
– Insufficient service delivery by the social security organizations
– Increased public awareness
– Improvements in private healthcare services
– Shifting trend of receiving quality hospital care to keeping people out of hospital
– Certain tax-related problems for commercial insurers have been hindering their market presence
– The commercial health policies are not customized to meet the healthcare needs of customers.
In order to support the Universal Health Insurance (UHI) initiative, Turkey must focus on the private health insurance sector, which presently accounts for only 2% of the overall health insurance coverage in the country. To achieve this feat, it should aim at diverting the government funds toward the healthcare needs of the vulnerable sections. Turkish government must provide all the required legal impetus for the sellers and users of health insurance. With policies that are simplified and explained in detail to the buyers of the health insurance policies, growing number of Turkish people may come forward to get health coverage, thus increasing the demand for private health insurers, leading to a double digit growth in the market.
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Key Market Trends:
Private Health Insurance Picking Up among Turkish Population to Meet the Growing Health Needs
Top up insurance is the fastest growing portion of the private medical insurance market in Turkey. According to the Insurance Association of Turkey, in 2016, health premiums increased by 22.9%, compared to the previous year. The advent of complementary health insurances in this area indicates that the demand for private health insurance may increase in the coming years, and that there may be more growth in this area.
Since the inception of complementary health insurance in 2013, there has been significant rise in the health insurance coverage, owing to the availability of qualified and high standards of healthcare in private health institutions.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides Turkey and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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